Article

For Healthcare Companies on Microsoft Dynamics GP, Solving Financial Reporting Pain with the Right Tools

by Linda Rosencrance
Contributing Writer, MSDW

The healthcare industry has some of the most complex reporting and budgeting requirements.

Along with that complexity comes many opportunities improve your reporting and budgeting process in regards to efficiency, accuracy and visibility into your organization's strengths and weaknesses.

One of the best ways to provide more insight to business leaders and to become more profitable is by improving your reporting and budgeting processes in regard to employee efficiency and accuracy, as well as to provide visibility into your organization's strengths and weaknesses, according to Derek Krebs, a partner and senior consultant with the MSX Group. Krebs was speaking to Microsoft Dynamics GP users at a recent online meeting of GPUG's Healthcare Special Interest Group.

Over the last five years, Microsoft has focused on business intelligence (BI) and corporate performance management (CPM), also known as budgeting and reporting, he said. And that includes focusing on Forecaster, the company's purpose built financial budgeting, planning and forecasting application, and Management Reporter.

Some of the problems healthcare companies face when it comes to budgeting are:

  • Too many spreadsheets, formulas, broken links
  • Too much time to set up
  • Difficult to collaborate without workflow, security, and audit trail
  • Data integrity, version control, consolidation

But the benefits of Forecaster include:

  • Quicker budgeting cycle
    • Minimal year to year setup
    • No broken links, formulas, and multiple spreadsheets
    • Powerful and easy rollups for quick consolidation or reorganization
    • Integrated with ERP using Forecaster Express ...

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Accounting BI and Reporting Budgeting Dynamics GP GPUG Healthcare
About Linda Rosencrance

Linda Rosencrance is a freelance writer/editor in the Boston area. Rosencrance has over 25 years experience as an reporter/investigative reporter, writing for many newspapers in the metropolitan Boston area. Rosencrance has been writing about information technology for the past 16 years.

She has covered a variety of IT subjects, including Microsoft Dynamics, mobile security issues such as data loss prevention, network management, secure mobile app development, privacy, cloud computing, BI, big data, analytics, HR, CRM, ERP, and enterprise IT.

Rosencrance is the author of six true crime books for Kensington Publishing Corp.

More about Linda Rosencrance